BUSINESS BRIEFS: NMB Bank, PACT joins hands

KATHMANDU, May 8: NMB Bank and Project for Agriculture Commercialization and Trade (PACT) have signed a memorandum of understanding to provide credit facilities to the financially viable projects of the grant applicants´ of PACT. According to a press statement, PACT´s grant applicants includes farmer groups, cooperatives, private firms and producer associations who are in need of funds to enhance their agricultural competitiveness.



"The Bank and PACT shall work together to enhance benefits to the smallholder farmers and agribusiness sector," said the statement.[break]



Kolher offers free accessories

KATHMANDU: Bajra & Bajracharya Enterprises -- the authorized distributor for Kohler sanitary ware in Nepal -- has announced an offer named ´Get Free Accessories´ on purchase of Kohler product item Atila-1868IN-0. According to a press statement, customers can get free bathroom accessories for the purchase of the product worth Rs 18,999 only. The product comes with a 10 year warranty and free servicing within 24 hours. The scheme started on Thursday and will be valid for a limited period only, according to the statement.



Now BFIs can appoint professors as board

KATHMANDU: Nepal Rastra Bank (NRB), the banking sector regulator, has allowed banks and financial institutions (BFIs) to appoint professors and readers of universities as members of board of directors, an NRB directive issued on Wednesday states. Earlier, the regulator had barred former government officials of any level and former full-time employees of public enterprises, government-run schools or educational institutions from being appointed as board members of banks and financial institutions, unless they represented government agencies in those boards. At that time, it had asked all BFIs not to renew appointments of such members upon expiry of their terms.

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